Deutsche Bank to slash 10,000 jobs
Here's a news item that's currently breaking:
German financial giant Deutsche Bank could cut up to 10,000 jobs as it looks to convince investors it is serious about returning to profitability, according to media reports Wednesday.
Deutsche Bank, which is one of Germany's largest banks is one to keep an eye on. The IMF recently said that it is the world's most dangerous bank.
http://www.bbc.com/news/business-36723034
One reason why Deutsche Bank is very scary is their derivative book, which is in the Trillions of Euros.
If Deutsche Bank has a collapse, it has been speculated that this could cause a chain reaction in bank failures. Could this news be the start of the Lehman Brothers moment of the next financial hiccup?
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We hope this does not happen, it's a little scary
Agreed!